ArriVent BioPharma (NASDAQ:AVBP) Now Covered by Oppenheimer

Equities researchers at Oppenheimer began coverage on shares of ArriVent BioPharma (NASDAQ:AVBP) in a report released on Monday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $35.00 price target on the stock. Oppenheimer’s target price would suggest a potential upside of 71.32% from the company’s previous close.

Separately, HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of ArriVent BioPharma in a research note on Thursday, June 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, ArriVent BioPharma has a consensus rating of “Buy” and a consensus price target of $30.40.

ArriVent BioPharma Stock Performance

NASDAQ:AVBP opened at $20.43 on Monday. The company’s fifty day moving average is $18.73. ArriVent BioPharma has a 52-week low of $14.35 and a 52-week high of $25.95.

ArriVent BioPharma (NASDAQ:AVBP) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.14. Research analysts forecast that ArriVent BioPharma will post -3.07 earnings per share for the current year.

Institutional Investors Weigh In On ArriVent BioPharma

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets bought a new position in shares of ArriVent BioPharma in the 1st quarter worth $83,000. American International Group Inc. bought a new position in ArriVent BioPharma in the first quarter valued at $87,000. Blackstone Inc. purchased a new stake in ArriVent BioPharma during the first quarter valued at about $446,000. Farallon Capital Management LLC bought a new stake in ArriVent BioPharma during the first quarter worth about $2,711,000. Finally, Altitude Crest Partners Inc. bought a new position in shares of ArriVent BioPharma during the 1st quarter valued at about $9,922,000. 9.48% of the stock is owned by hedge funds and other institutional investors.

About ArriVent BioPharma

ArriVent BioPharma, Inc operates as a clinical-stage biopharmaceutical company that engages in the identification, development, and commercialization of medicines for the unmet medical needs of patients with cancers in the United States. It also engages in the development and commercialization of targeted cancer therapies for non-small cell lung cancer (NSCLC) and other solid tumors.